Slide 1: Q2 FY 2022 Earnings Conference Call
Q2 FY 2022 Earnings Conference Call December 2, 2021
Slide 2: Forward-Looking Statement Safe Harbor
2 Forward - Looking Statement Safe Harbor — This presentation includes “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward - looking statements by the Company’s use of forward - looking terminology such as “ant
Slide 3: Q2 Fiscal 2022 Highlights
3 Q2 Fiscal 2022 Highlights 1. For a reconciliation of Adjusted SG&A, Adjusted Net Income, Adjusted EBITDA, and Adjusted EBITDA Margin to the most directly comparable GAAP metrics, see Appendix. Record Levels of Net Sales, Net Income and Adjusted EBITDA 1 • Quarterly net sales in excess of $1 billio
Slide 4: Strategic Growth Priorities – Q2 FY22 Update
4 Strategic Growth Priorities – Q2 FY22 Update Capitalize on existing fixed investments in locations and equipment where we are underpenetrated or below expected share Expand Share in Core Products Grow Complementary Product opportunities outside of core products to diversify and profitably expand o
Slide 5: GMS Completes Acquisition of AMES Taping Tools
5 Acquisition: On 12/1/21, GMS acquired AMES Taping Tools Holding LLC (“AMES”) for a preliminary purchase price of $212.5 million in cash. GMS Completes Acquisition of AMES Taping Tools Geographic Footprint Company & Acquisition Overview Business Profile: AMES is the nation’s foremost provider of au
Slide 6: Q2 Fiscal 2022 Performance – Net Sales Over $1 Billion
6 $265.1 $371.9 32.6% 32.3% 20.0% 20.5% 21.0% 21.5% 22.0% 22.5% 23.0% 23.5% 24.0% 24.5% 25.0% 25.5% 26.0% 26.5% 27.0% 27.5% 28.0% 28.5% 29.0% 29.5% 30.0% 30.5% 31.0% 31.5% 32.0% 32.5% 33.0% 33.5% 34.0% 34.5% 35.0% 35.5% 36.0% 36.5% 37.0% $0 $50 $100 $150 $200 $250 $300 Fiscal Q2 2021 Fiscal Q2 2022
Slide 7: Q2 Fiscal 2022 – Improved Profitability
7 $82.5 $149.5 10.2% 13.0% Fiscal Q2 2021 Fiscal Q2 2022 Adj. EBITDA Adj. EBITDA Margin $183.3 $223.2 22.5% 19.4% 10.0% 10.5% 11.0% 11.5% 12.0% 12.5% 13.0% 13.5% 14.0% 14.5% 15.0% 15.5% 16.0% 16.5% 17.0% 17.5% 18.0% 18.5% 19.0% 19.5% 20.0% 20.5% 21.0% 21.5% 22.0% 22.5% 23.0% 23.5% $0 $50 $100 $150 $
Slide 8: Attractive Capital Structure Supports Strategic Initiatives
8 Attractive Capital Structure Supports Strategic Initiatives Cash From Operations and Free Cash Flow 1 $89.9 $82.5 ▪ Cash used in Operations was $2.0 million, compared to Cash provided by Operations of $39.8 million in Q2 FY21 ▪ Free Cash Flow 1 use was $11.3 million, compared to Free Cash Flow of
Slide 9: Expectations
9 Expectations 1. For a reconciliation of Adjusted SG&A, Adjusted Net Income, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow to the most directly comparable GAAP metrics, see Appendix. Favorable pricing and continued strength in residential should result in: • Q3 FY22 Expected Year - Ove
Slide 10: GMS is Well-Positioned Now and for the Long-Term
10 GMS is Well - Positioned Now and for the Long - Term ▪ A North American market leader in specialty distribution of interior construction products. ▪ Significant scale combined with local expertise ▪ Differentiated best - in - class customer service model ▪ Entrepreneurial culture ▪ We are success
Slide 11: Q2 FY 2022 Earnings Conference Call
11 Q2 FY 2022 Earnings Conference Call
Slide 12: Appendix
Appendix GMS
Slide 13: Summary Quarterly Financials
13 Summary Quarterly Financials (In millions, except per share data) 1Q21 2Q21 3Q21 4Q21 FY21 1Q22 2Q22 (Unaudited) Wallboard Volume (MSF) 1,054 1,073 997 1,147 4,270 1,095 1,104 Wallboard Price ($ / '000 Sq. Ft.) 311$ 308$ 312$ 329$ 311$ 356$ 376$ Wallboard 328$ 331$ 311$ 377$ 1,330$ 390$ 415$ Ceil
Slide 14: Quarterly Cash Flows
14 Quarterly Cash Flows (1) Free cash flow is a non - GAAP financial measure defined as net cash provided by (used in) operations less capital expenditures. D ifferences may occur due to rounding. ($ in millions) (Unaudited) 1Q21 2Q21 3Q21 3Q21 FY21 1Q22 2Q22 Net income $ 27.2 $ 28.5 $ 16.1 $ 33.7 $
Slide 15: Q2 2022 Net Sales
15 Q2 2022 Net Sales 1. Organic net sales growth calculation excludes net sales of acquired businesses until first anniversary of acquisition date an d i mpact of foreign currency translation. ($ in millions) (Unaudited) FY22 FY21 Reported Organic (1) Organic (1) 1,066.1$ 812.9$ Acquisitions 76.0 -
Slide 16: Quarterly Net Income to Adjusted EBITDA Reconciliation
16 Quarterly Net Income to Adjusted EBITDA Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share
Slide 17: Net Income to Pro Forma Adjusted EBITDA Reconciliation
17 Net Income to Pro Forma Adjusted EBITDA Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share
Slide 18: Income Before Taxes to Adjusted Net Income Reconciliation
18 Income Before Taxes to Adjusted Net Income Reconciliation Commentary A. Depreciation and amortization from the increase in value of certain long - term assets associated with the April 1, 2014 acquisition of the predecessor company, the acquisition of Titan and the acquisition of Westside Buildin
Slide 19: Reported SG&A to Adjusted SG&A Reconciliation
19 Reported SG&A to Adjusted SG&A Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share - based a
Slide 20: Leverage Summary
20 Leverage Summary (1) Net of unamortized discount of $1.4 mm, $1.4 mm, $0.6 mm, $0.6 mm and $0.5 mm as of October 31, 2020, January 31,2021, April 30, 2021, July 31, 2021, and October 31, 2021, respectively. (2) Net of deferred financing costs of $8.1 mm, $7.6 mm, $4.1 mm, $3.9 mm and $3.6 mm as o